Friday, February 5 2021 12:46

ArmInfo.In the consumer market of Armenia in January 2021, inflation was recorded at 2.2%, with an annual inflation of 4.5% (in January 2021 to January 2020),  significantly exceeding inflation a year ago - 1.3% per month and  0.2% in a year.

January inflation was largely triggered by the rise in prices for  food products (including alcohol and cigarettes) by 4.1% (versus 2.8%  growth in January 2020) and non-food products by 1.7% (versus 0.3%  decline in January 2020), and to a lesser extent an increase in  tariffs for services by 0.3% (similar to the growth in January 2020).  In the capital, consumer prices for January this year increased by  2.3%, against 1.1% growth in January 2020.

On an annualized basis (January 2021 to January 2020), inflation in  the consumer market was provoked by an increase in the price of food  products by 6.8% and non-food products by 5.5%, with an increase in  tariffs for services by 1.4%, while a year earlier (in January 2020  versus January 2019) there was an increase in prices for non-food  products by 1.7% and an increase in tariffs for services by 1.2%,  while the price of food products decreased by 1.1%.

In the food market, the rise in prices was mainly due to the rise in  prices for vegetables - by 23% in January and 9.9% per year, fruits -  by 9.5% in January and 12% per year. In total, vegetables and fruits  increased in price in January by 17.1%, and occupying 8.35% in the  consumer basket had a 1.4% impact on the rise in consumer prices.

Animal and vegetable oils rose in price by 3.2% in January and 16.9%  in a year. Moreover, sunflower oil rose in price by 6.7% in January  and 44.3% over the year.

Bread products and cereals rose by 1% in January and 8.4% over the  year. In particular, the annual growth came from the rise in prices  for bread and flour by 7.9% and 12.5%, while the January growth by  0.8% and 1.6%, respectively.

Dairy products, cheese and eggs rose 0.9% in January and 7.7% in a  year. At the same time, the price of eggs increased by 2.7% in  January and 26.4% in a year. Sugar and granulated sugar rose 0.7% in  January and 40.7% in a year. Meat products, having risen in price by  0.2% in January, fell by 0.1% on an annualized basis. Alcohol and  cigarettes rose 0.7% in January and 10.8% in a year. Moreover, the  increase in prices for alcoholic beverages amounted to 1.1% in  January and 12.9% for the year.

In January, prices for fish and seafood also increased by 0.1%, soft  drinks - by 1.1%, and coffee, tea, cocoa - by 1.2%. The January rise  in prices for non-food products was mainly due to from the rise in  prices for medicines by 4.6%, jewelry - by 2.9%, household electrical  appliances, cleaning and detergents - by 2.6%, furniture - by 0.9%,  fuels and lubricants - by 0.7% , clothing and footwear - by 0.7%,  carpets and floor coverings - by 0.5%. Gasoline and diesel fuel rose  in price in January by 3.1% and 3.8%, respectively, and in annual  terms - by 9.5% and 20.2%.

The January rise in the cost of services was largely due to a 13.1%  increase in tariffs for postal services, which came from the rise in  the cost of delivery of parcels by 16.3%. And the annual increase in  the cost of services came from the increase in tariffs in the  following areas: transport - by 5.7%, medical services - by 5.6%,  education - 2%, hotel and restaurant business - 1.6%.

It should be noted that at the end of 2020 (January-December), the  recorded inflation in the consumer market of Armenia turned out to be  higher - 3.7%, than in 2019 - 0.7%. This was largely provoked by an  increase in the prices of food products (including alcohol and  cigarettes) by 5.5% (versus 0.2% in 2019), and non-food products - by  3.4% (versus 1.4% in 2019). with an increase in tariffs for services  by 1.6% (versus 1.1% in 2019). The average monthly increase in  consumer prices in January-December 2020 amounted to 0.3%, against an  increase of 0.1% in 2019. On an annualized basis (January-December  2020 to January-December 2019), the consumer market also recorded  inflation - 1.2% (against inflation of 1.4% a year ago), which was  due to an increase in prices for food products by 1.2% (against  growth by 2.1% a year earlier), non-food products - by 1% (against an  increase of 1.5% a year earlier) and an increase in tariffs for  services by 1.4% (against an increase of 0.5% a year earlier). In  December 2020 alone, consumer prices increased by 3.4%, mainly due to  the rise in prices for food products by 6.4%, while prices for  non-food products increased by 2.3% and tariffs for services  increased by 0.3%. In Yerevan, consumer prices increased by 3.3% in  December 2020 (against an increase of 1.1% in December 2019).